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China Says "No Dollars" For New Yuan - Foreign Affairs - Nairaland

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China Says "No Dollars" For New Yuan by Nobody: 7:45pm On Apr 20, 2016
CHINA SAYS "NO DOLLARS" FOR NEW YUAN

Post by U.S.Reporter- Apr 13, 2016

In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.

When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets.

But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been "staggering." And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade: The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold. Which currency would YOU use?

When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars. But they won't be able to dump them to China for the new gold-backed, Yuan!

China has reportedly decided"there can be no conversion of gold-backed Yuan to or from US dollars." What China fears is that many countries around the world will want to trade their reserve US dollars for the new Yuan, leaving China with mountains of worthless US dollars. China already has several trillion in US dollar reserves and does not want or need more.

If news of this decision by China is correct, then countries around the world may just have to decide whether or not they wish to continue trading with the USA at all?

The upheaval this could cause as early as next week, would be staggering.

https://www.superstation95.com/index.php/world/1152

http://bbs.chinadaily.com.cn/forum.php?mod=viewthread&tid=1844662

http://engforum.pravda.ru/index.php?/topic/271598-china-says-no-dollars-for-new-yuan-posted-by-macaense/
Re: China Says "No Dollars" For New Yuan by Nobody: 7:46pm On Apr 20, 2016
I stumbled on this and decided to share.

Lalasticlala
Re: China Says "No Dollars" For New Yuan by Day11(m): 7:48pm On Apr 20, 2016
Bubu the magician.

grin
Re: China Says "No Dollars" For New Yuan by jmichlins(m): 7:54pm On Apr 20, 2016
Please i read this but could not understand it. Who cares to explain

1 Like

Re: China Says "No Dollars" For New Yuan by BudeYahooCom: 7:59pm On Apr 20, 2016
As long the world continues to be dependent on US products and technology including China (They steal US technology and cheapen it), the dollar will continue to rise. If the chinese won't exchange their ¥ for $, Uk will exchange £ for $, EU will still exchange € for $, Nigerians will steal exchange Naira for $. I see the Chinese ¥ rise but I don't see the $ falling soon. The rise of ¥ is not dependent on the fall of $, just as the rise of £ and € have not been dependent of the fall of $. They are all strong currencies that can reach their peak independently.

1 Like

Re: China Says "No Dollars" For New Yuan by Nobody: 7:59pm On Apr 20, 2016
China and wayo like bread and butter
Re: China Says "No Dollars" For New Yuan by Nobody: 10:10pm On Apr 20, 2016
the chineese just used nigeria to play chess.this means that by the by the time you convert the yuan to naira and. to dollars that your money would have lost value
Re: China Says "No Dollars" For New Yuan by Poseidon000: 10:43pm On Apr 20, 2016
BudeYahooCom:
As long the world continues to be dependent on US products and technology including China (They steal US technology and cheapen it), the dollar will continue to rise. If the chinese won't exchange their ¥ for $, Uk will exchange £ for $, EU will still exchange € for $, Nigerians will steal exchange Naira for $. I see the Chinese ¥ rise but I don't see the $ falling soon. The rise of ¥ is not dependent on the fall of $, just as the rise of £ and € have not been dependent of the fall of $. They are all strong currencies that can reach their peak independently.
[size=13pt][b]
Lol..ignorance is bliss indeed.

My brda, if you're a neophyte in the punditry of foreign affaire's, it is better to keep quit and watch from the side line. I myself don't opine on issue i'm not well soused/discern in.

Didn't you come across the part that said china's refusal to convert her gold backed yuan to dollar will render nothing-backed dollar absolute, i mean, USELESS.

What this unequivocally means, is that the world will dump the already bastardize US financial fiat system for yuan. Infact, the UK you mentioned and lot of other EU countries lyk france,germany,spian etc are all part of the financial revolution of 57 nations under the aegis of chinese led (AIIB) which is out to sniff life outta US financial monopoly(good news for all lovers of truth,justice and equity).

Nairaminted,scully95,zoharariel, appleyard etc. make una cun see how united evil of armageddon wun receive anoda sucker punchgrin

Make we see how dem go dey issue sanction lyk their papa inheritance, and fund their war advanture after dem recieve finishing blow from BRICS and AIIB.

My dream dun dey become reality jejellygrin

Jah be praise. The fall of babylon, we shall behold with our eyez.
[/b][/size]

8 Likes 2 Shares

Re: China Says "No Dollars" For New Yuan by Missy89(f): 12:12am On Apr 21, 2016
conspiracy theorists gathering to celebrate their idiocy as usual

How about you learn the difference between a gold back currency and a currency gold fix?

Amusing!

https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/chinas-coming-gold-fix-april-19th-2016/

3 Likes

Re: China Says "No Dollars" For New Yuan by Barram: 12:58am On Apr 21, 2016
Missy89:
conspiracy theorists gathering to celebrate their idiocy as usual

How about you learn the difference between a gold back currency and a currency gold fix?

Amusing!

https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/chinas-coming-gold-fix-april-19th-2016/
No, you are the idiot here.
Stop being a nuisance to this forum. Everybody here knows that you are a zombie defending your masters. Objectivity and truth is a rocket science to you. It's only a jobless person that will engage you.

7 Likes

Re: China Says "No Dollars" For New Yuan by Missy89(f): 1:08am On Apr 21, 2016
Barram:
No, you are the idiot here.
Stop being a nuisance to this forum. Everybody here knows that you are a zombie defending your masters. Objectivity and truth is a rocket science to you. It's only a jobless person that will engage you.

Lol. Abuse without any substantial fact is a sign of idiocy. You are hopeless

Do you know the difference between a gold backed currency and currency gold fix? ( which the dollar and the remaining hard currencies already enjoy?)
Re: China Says "No Dollars" For New Yuan by Lucasbalo(m): 3:20am On Apr 21, 2016
Missy89:


Lol. Abuse without any substantial fact is a sign of idiocy. You are hopeless

Do you know the difference between a gold backed currency and currency gold fix? ( which the dollar and the remaining hard currencies already enjoy?)


You and Valeriansteel should just ignore the American haters. The pathological hatred of America or anything American is nauseating. The bald eagle is American symbol and she will keep soaring despite the haters.

1 Like

Re: China Says "No Dollars" For New Yuan by Barram: 9:02am On Apr 21, 2016
Missy89:


Lol. Abuse without any substantial fact is a sign of idiocy. You are hopeless

Do you know the difference between a gold backed currency and currency gold fix? ( which the dollar and the remaining hard currencies already enjoy?)


if it had been a reasonable person, i would've pulled out links to help remedy your pitiable situation, but i'm not jobless and foolish to be going back and forth with a recidivious zombie. I already know where the argument will end.

4 Likes

Re: China Says "No Dollars" For New Yuan by Appleyard(m): 9:25pm On Apr 22, 2016
Poseidon000:

[size=13pt]
Lol..ignorance is bliss indeed.

My brda, if you're a neophyte in the punditry of foreign affaire's, it is better to keep quit and watch from the side line. I myself don't opine on is

Didn't you come across the part that said china's refusal to convert her gold backed yuan to dollar will render nothing-backed dollar absolute, i mean, USELESS.

What this unequivocally means, is that the world will dump the already bastardize US financial fiat system for yuan. Infact, the UK you mentioned and lot of other EU countries lyk france,germany,spian etc
Nairaminted,scully95,zoharariel, appleyard etc. make una cun see how united evil of armageddon wun receive anoda sucker punchgrin

Make we see how dem go dey issue sanction lyk their papa inheritance, and fund their war advanture after dem recieve finishing blow from BRICS and AIIB.

My dream dun dey become reality jejellygrin

Jah be praise. The fall of babylon, we shall behold with our eyez.
[/size]
IN A TIME OF GLOBAL DECIET, TELLING THE TRUTH IS A REVOLUTIONARY ACT...

Many a time, i watch in awe and outer disdain when homies hop in here on Nairaland and start yelling about how the status of the US Dollar and it's economy would remain unchanged, even if most nations of the world dealing the oil trade, should boycott using the Dollar in their respective financial dealings. And to buttress their myopic points, they start quoting some textbook economic principles and theories, which in the actual sense, are increasingly becoming unrealistic and impraticable in modern global economics reality. This apostles of America's economic apostasy waste no time in jumping the guns, wailing like Bob Marley and the Wailers, spouting lies and hypocrisy, basking in their never ending euphoria of self-delusional inclination, denoting a grotesque- filled analytical bias, enveloped in a zenith aura of mendacity; the after effects of an ingrained zombie-ism. They say the US don't give a dime if anyone is quitting the neck-tie Dollar financial system they created back in the 70s; so says the delusionists. But when some nations boldly dares the current Dollar financial settings, and the US started raining down fire and terror brimestones on their head, some of these same inmates doing life in western prison of zombiefication, comes howling that Uncle Sam is only spreading ''democrazy''. What a shame!

When Saddam Hussein stopped using the US Dollar by creating a financial system that seeks to exchange his oil for other notes or a direct exchange of oil for goods, completely bypassing the US Dollar: suddenly, 9/11 occurred, (with sector 7 going down on a free fall - not forgeting the BBSin reporting the collapse of the Twin Towers 27 minutes before it actually happened,) then Bush's ''democrazy'' came calling on Iraq, and the 1st thing the US-led invaders did after the bombardment, was to reversed the financial system back to the status quo as against the advent of Saddam.

Democrazy in deed!

It was also ''democrazy'' in Libya when Qaddafi was pushing through his dream of an African gold Dinar - another financial assassinatior system to the US Dollar - and suddenly, an uprising emerged out of a color coded revolution that saw within a week of the uprising, the rebels (who are nothing but of Al Qaeda group members) creating their own Central Bank and exchange financial System, the 1st of such in the history of revolusions since the world began. And at the end thereof, Qaddafi paid with his life for daring the current financial order. Its even on record that Sarkozy of France openly labelled Libya as a ''threat to the global financial order.'' Now one may ask: how in hell (order than the gold dinar push) was Libya a threat to the financial order of the world? Well, you already know the answer. But for US and IS apologists, it wasn't because of the gold dinar. Nay! Its for democrazy!

Pathetic!

It was also democrazy when, immediately Nigeria under GEJ, announced plans to convert half of its Dollar denominated foreign reserve into the Chinese Yuan, the Boko Haram insulgency quadrupled overnight, and the western Media launched world war 3 against the Federal government, with Chibok happening overnight, ditto no single help comming from the self acclaim fighter of terrorism. And now that Buhari had gone to China, amidst claims that a currency swap plan is in the offing, it was then American number one lying machine, CNN, suddenly lay hold on a tape purporting that the Chibok girls are alive and well. But they forgot that not everyone are idiotic in not noting that the girls they displayed were well fed, robust, full of life, and looking even brighter and lively than Christiane Armanpour and Anderson Cooper.
Somebody should pls tell if Boko Haram is now in copetition with Nebudchadnizer's table staffs.

But the apologists still can't see it.

Pathetic!

Pathetic!

9 Likes 3 Shares

Re: China Says "No Dollars" For New Yuan by Poseidon000: 10:16pm On Apr 30, 2016
Appleyard:

IN A TIME OF GLOBAL DECIET, TELLING THE TRUTH IS A REVOLUTIONARY ACT...

Many a time, i watch in awe and outer disdain when homies hop in here on Nairaland and start yelling about how the status of the US Dollar and it's economy would remain unchanged, even if most nations of the world dealing the oil trade, should boycott using the Dollar in their respective financial dealings. And to buttress their myopic points, they start quoting some textbook economic principles and theories, which in the actual sense, are increasingly becoming unrealistic and impraticable in modern global economics reality. This apostles of America's economic apostasy waste no time in jumping the guns, wailing like Bob Marley and the Wailers, spouting lies and hypocrisy, basking in their never ending euphoria of self-delusional inclination, denoting a grotesque- filled analytical bias, enveloped in a zenith aura of mendacity; the after effects of an ingrained zombie-ism. They say the US don't give a dime if anyone is quitting the neck-tie Dollar financial system they created back in the 70s; so says the delusionists. But when some nations boldly dares the current Dollar financial settings, and the US started raining down fire and terror brimestones on their head, some of these same inmates doing life in western prison of zombiefication, comes howling that Uncle Sam is only spreading ''democrazy''. What a shame!

When Saddam Hussein stopped using the US Dollar by creating a financial system that seeks to exchange his oil for other notes or a direct exchange of oil for goods, completely bypassing the US Dollar: suddenly, 9/11 occurred, (with sector 7 going down on a free fall - not forgeting the BBSin reporting the collapse of the Twin Towers 27 minutes before it actually happened,) then Bush's ''democrazy'' came calling on Iraq, and the 1st thing the US-led invaders did after the bombardment, was to reversed the financial system back to the status quo as against the advent of Saddam.

Democrazy in deed!

It was also ''democrazy'' in Libya when Qaddafi was pushing through his dream of an African gold Dinar - another financial assassinatior system to the US Dollar - and suddenly, an uprising emerged out of a color coded revolution that saw within a week of the uprising, the rebels (who are nothing but of Al Qaeda group members) creating their own Central Bank and exchange financial System, the 1st of such in the history of revolusions since the world began. And at the end thereof, Qaddafi paid with his life for daring the current financial order. Its even on record that Sarkozy of France openly labelled Libya as a ''threat to the global financial order.'' Now one may ask: how in hell (order than the gold dinar push) was Libya a threat to the financial order of the world? Well, you already know the answer. But for US and IS apologists, it wasn't because of the gold dinar. Nay! Its for democrazy!

Pathetic!

It was also democrazy when, immediately Nigeria under GEJ, announced plans to convert half of its Dollar denominated foreign reserve into the Chinese Yuan, the Boko Haram insulgency quadrupled overnight, and the western Media launched world war 3 against the Federal government, with Chibok happening overnight, ditto no single help comming from the self acclaim fighter of terrorism. And now that Buhari had gone to China, amidst claims that a currency swap plan is in the offing, it was then American number one lying machine, CNN, suddenly lay hold on a tape purporting that the Chibok girls are alive and well. But they forgot that not everyone are idiotic in not noting that the girls they displayed were well fed, robust, full of life, and looking even brighter and lively than Christiane Armanpour and Anderson Cooper.
Somebody should pls tell if Boko Haram is now in copetition with Nebudchadnizer's table staffs.

But the apologists still can't see it.

Pathetic!

Pathetic!
[size=13pt]
Well and cogently put.

[img]http://t3.gstatic.com/images?q=tbn:ANd9GcQ5IQJLcS4nLf5838Eqmjvfgvzl11TYW6nrXzhcBMxQv8m_7up6pg[/img]
[img]http://t1.gstatic.com/images?q=tbn:ANd9GcT77ET3cD_R27zgY0KzaP7aL_lAVSNt5P-HcLdQKhcw7yQ5wzB7JA[/img]

I wanted to open a thread on the quoted, but I'm really occupied at the moment. thank you for your selfless service to humanity, soulja.

Their grand conspiracy is insipid to children of light. Gr8t you decode the link in the chibok brouhaha.

They say; "say the truth and it shall set you free", but I tell you apple of God. You don't have to say the truth,cos you're the "truth".
In you the world find succour of discernment.


Jah bless.
[/size]

3 Likes 1 Share

Re: China Says "No Dollars" For New Yuan by Appleyard(m): 4:24pm On May 01, 2016
Poseidon000:

[size=13pt]
Well and cogently put.

[img]http://t3.gstatic.com/images?q=tbn:ANd9GcQ5IQJLcS4nLf5838Eqmjvfgvzl11TYW6nrXzhcBMxQv8m_7up6pg[/img]
[img]http://t1.gstatic.com/images?q=tbn:ANd9GcT77ET3cD_R27zgY0KzaP7aL_lAVSNt5P-HcLdQKhcw7yQ5wzB7JA[/img]

I wanted to open a thread on the quoted, but I'm really occupied at the moment. thank you for your selfless service to humanity, soulja.

Their grand conspiracy is insipid to children of light. Gr8t you decode the link in the chibok brouhaha.

They say; "say the truth and it shall set you free", but I tell you apple of God. You don't have to say the truth,cos you're the "truth".
In you the world find succour of discernment.


Jah bless.
[/size]
Thank very much soulja. justv reporting back to duty after some days out. The truth is our callinf, soulja. We can do nothing against the truth, but for the truth.
Re: China Says "No Dollars" For New Yuan by Poseidon000: 12:08am On May 02, 2016
Appleyard:
Thank very much soulja. jus reporting back to duty after some days out. The truth is our calling, soulja. We can do nothing against the truth, but for the truth.
[size=13pt]
At the embolded;[img]http://t1.gstatic.com/images?q=tbn:ANd9GcRa0NA_V1kLA-dI697UGt7RfRbwiYHYf3HT2b_1b6KnU1B_uh-g[/img]sir



[img]http://t3.gstatic.com/images?q=tbn:ANd9GcTXMYWaTMVdbOu-3phQKExceeTMENAhQTt55w0desbr6FNU0eHrCA[/img]
[img]http://t0.gstatic.com/images?q=tbn:ANd9GcR70ClxMg8UWpvP_aKQGUTyU-eD08HhKTz5hdQxDXF2jefFveJ1[/img]
To the highlighted
[/size]

1 Like

Re: China Says "No Dollars" For New Yuan by Caseless: 8:08pm On May 07, 2016
Na keneking thread? Make I tanda for hia!
Re: China Says "No Dollars" For New Yuan by Caseless: 8:15pm On May 07, 2016
BudeYahooCom:
As long the world continues to be dependent on US products and technology including China (They steal US technology and cheapen it), the dollar will continue to rise. If the chinese won't exchange their ¥ for $, Uk will exchange £ for $, EU will still exchange € for $, Nigerians will steal exchange Naira for $. I see the Chinese ¥ rise but I don't see the $ falling soon. The rise of ¥ is not dependent on the fall of $, just as the rise of £ and € have not been dependent of the fall of $. They are all strong currencies that can reach their peak independently.
too much brainwash by the US has gotten to this guy.

1 Like 1 Share

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